ETS

Panels will be installed at waste sites in five mining towns as part of the latest, €2.4 billion ($2.57 million) round of investment from a fund set up to help coal-dependent European member states with the energy transition.

If the EU is going to drive more than half a trillion dollars worth of hydrogen investment over the coming decades, it will need to get investors onside. The European Investment Bank has surveyed financiers to find out what they want.

With an estimated 500 TWh of renewable electricity needed to produce the 10 million tons per year of clean hydrogen wanted by the European Union by 2030, the recent promise to ramp up European electrolyzer production capacity could give a boost to solar developers grappling with sluggish permitting regimes.

A report by the IEA laying out two routes for China to reach net zero attempts to persuade policymakers to gun for that goal by 2050, rather than ten years later, and dangles the prospect of continued global dominance as the main reward on offer.

U.K. carbon prices have looked relatively strong since the market launched in May. There is now optimism that the U.K. emissions trading system (ETS) will drive investment in renewables and green hydrogen. However, linking with the EU ETS is seen as key for the market to flourish in the longer term.

Emissions permits are selling at around €50 per ton, completing a rally from last year’s Covid-driven slump faster than expected by business respondents to the 2021 Refinitiv Carbon Market Survey.

Carbon price levied on imported goods should be linked to level set by the bloc’s emissions trading system and should cover the power sector by 2023, according to members of the European Parliament’s environment committee.

The solar and wind industries could benefit from a $6.4 trillion boom under the most ambitious of two scenarios described by Bloomberg New Energy Finance, and $2.4 trillion even in the business-as-usual outlook.

Amid high hopes for the European Commission presidency that is about to start, attendees at a recent event in Berlin tempered optimism by renewing calls for an industrial policy for the bloc.

Renewables investment may by hit by rising interest rates despite the falling cost of clean energy tech just as fossil fuels avoid the impact of rising base rates.